WORLD RICE SITUATION AND OUTLOOK
Global rice trade for 2001 is projected at 22.2 million tons, down nearly 600,000 tons down from the previous year. Global production (paddy basis) is forecast down 17.2 million tons to 590.1 million. Ending stocks are projected to decline 4.8 million tons to 134.4 million. Consumption, however, is projected to increase 2.4 million tons to 401.4 million.
While high global stocks and low import demand hinder growth in trade, many of the major exporting countries are behind their typical export pace. Global price quotes are steady to higher; the four week average for Thai 100B and Viet 5% is $172/ton and $153/ton, respectively.
Export price quotes for U.S. long grain grade #2/4 percent remain at $276 per ton (FAS), US Gulf sacked, while medium grain #1/4 California rice holds at $190 per ton, ex-spout Sacramento port.
Trade Changes in 2001
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